Trade gap narrows as international trade remains sluggish

Imports and exports were down in June when the visible trade gap narrowed by €14.4 million when compared to June 2007, official figures issued this morning show.

The NSO said the trade gap stood at €91.8 million.

There was a decrease in imports of €46.1 million and a decrease in exports of €31.6 million.

The decrease in imports was mainly due to fuel and lubricants and industrial supplies.

Machinery and transport equipment, mineral fuels, lubricants and related materials and miscellaneous manufactured articles accounted for the decrease in exports.

During the first six months this year, the visible trade gap widened by €50.5 million, to stand at €652.6 million. This came about because of a decrease of €41.9 million in imports and a decrease of €92.4 million in exports.

The NSO said the decrease in imports was mainly due to machinery and transport equipment. Decreases were also registered in semi-manufactured goods.

During this period the decrease in exports was primarily due to machinery and transport equipment. Other decreases were registered in miscellaneous manufactured articles and mineral fuels, lubricants and related materials.